Impact Of A Personal Injury Settlement On SSDI And SSI Benefits
Personal injury lawsuits allow victims to seek vital monetary compensation for economic damages, such as hospital bills, lost income, and property damage, as well as non-economic damages, such as diminished quality of life, pain and suffering, and loss of consortium. Depending on the severity of the victim’s injuries, these types of cases can result in substantial settlement amounts. However, accident victims are often concerned about whether obtaining settlements will impact their disability benefits.
Will a Personal Injury Settlement Trigger the Loss of SSDI Benefits?
Fortunately, Social Security Disability Insurance benefits are usually not affected by personal injury settlements. These benefits are determined based on the claimant’s employment history. Those that have qualifying disabilities can become eligible for SSDI benefits by accruing enough work credits. An individual earns work credits throughout the course of their employment. A personal injury settlement cannot alter said credits. Therefore, personal injury compensation should not have any direct consequences on your SSDI benefits.